Public Storage (NYSE:PSA) Holdings Boosted by Global X Japan Co. Ltd.

Global X Japan Co. Ltd. boosted its holdings in Public Storage (NYSE:PSA) by 24.9% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 416 shares of the real estate investment trust’s stock after acquiring an additional 83 shares during the period. Global X Japan Co. Ltd.’s holdings in Public Storage were worth $125,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Ameriflex Group Inc. bought a new position in Public Storage in the fourth quarter worth about $30,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Public Storage during the fourth quarter valued at approximately $32,000. Opal Wealth Advisors LLC bought a new stake in shares of Public Storage during the first quarter valued at approximately $36,000. Millstone Evans Group LLC bought a new stake in shares of Public Storage during the fourth quarter valued at approximately $38,000. Finally, Parvin Asset Management LLC bought a new stake in shares of Public Storage during the fourth quarter valued at approximately $38,000. Institutional investors own 78.79% of the company’s stock.

Public Storage Price Performance

NYSE PSA opened at $290.87 on Friday. Public Storage has a 12 month low of $256.60 and a 12 month high of $369.99. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.55 and a quick ratio of 0.55. The firm has a market capitalization of $51.03 billion, a PE ratio of 28.89, a P/E/G ratio of 4.21 and a beta of 0.89. The company’s 50 day simple moving average is $298.32 and its 200 day simple moving average is $299.61.

Public Storage (NYSE:PSA) last posted its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $4.12 EPS for the quarter, beating analysts’ consensus estimates of $4.06 by $0.06. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.18 billion. Public Storage had a net margin of 41.74% and a return on equity of 36.50%. The business’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter last year, the business earned $4.03 earnings per share. As a group, equities research analysts forecast that Public Storage will post 16.7 EPS for the current fiscal year.

Public Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Thursday, June 12th will be given a $3.00 dividend. The ex-dividend date is Thursday, June 12th. This represents a $12.00 annualized dividend and a yield of 4.13%. Public Storage’s dividend payout ratio (DPR) is 119.17%.

Wall Street Analysts Forecast Growth

PSA has been the topic of a number of recent analyst reports. Wells Fargo & Company cut their price target on Public Storage from $365.00 to $330.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. Royal Bank Of Canada cut their price target on Public Storage from $329.00 to $328.00 and set a “sector perform” rating on the stock in a report on Friday, May 2nd. Barclays cut their price target on Public Storage from $354.00 to $351.00 and set an “overweight” rating on the stock in a report on Friday, May 16th. Bank of America lifted their price target on Public Storage from $368.00 to $380.00 and gave the company a “buy” rating in a report on Tuesday, May 13th. Finally, Mizuho lifted their price target on Public Storage from $287.00 to $309.00 and gave the company a “neutral” rating in a report on Wednesday, May 28th. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $339.25.

Public Storage Profile

Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns, and operates self-storage facilities. At December 31, 2023, we had: (i) interests in 3,044 self-storage facilities located in 40 states with approximately 218 million net rentable square feet in the United States and (ii) a 35% common equity interest in Shurgard Self Storage Limited (Euronext Brussels: SHUR), which owned 275 self-storage facilities located in seven Western European nations with approximately 15 million net rentable square feet operated under the Shurgard brand.